EconomyLens.com
No Result
View All Result
Thursday, August 14, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

US ends waiver for Iraq to buy Iranian electricity

Thomas Barnes by Thomas Barnes
March 9, 2025
in Economy
Reading Time: 6 mins read
A A
1
208
SHARES
2.6k
VIEWS
Share on FacebookShare on Twitter

Despite having immense oil and gas reserves, Iraq remains dependent on imports to meet its energy needs. ©AFP

Washington (AFP) – The United States has ended a sanctions waiver that allowed Iraq to buy electricity from neighboring Iran, in line with President Donald Trump’s policy of exerting “maximum pressure” on Tehran. In a statement Sunday, the State Department said the decision not to renew the waiver was made to “ensure we do not allow Iran any degree of economic or financial relief.”

Related

UK economy slows less than feared after tariffs

European powers tell UN they are ready to reimpose Iran sanctions

India reels from US tariff hike threat

German gas drive fuels fears of climate backsliding

S.Africa to offer US new deal to avoid 30% tariff

The move comes two days after Trump said he had written Iran’s supreme leader Ayatollah Ali Khamenei to press for new talks on Tehran’s nuclear program. The US president warned of possible military action if Iran did not give in — a message that prompted Khamenei to reject “bullying” by foreign powers. Iran supplies a third of Iraq’s gas and electricity, providing Tehran with substantial income.

– ‘Never take place’ – The Iranian mission to the United Nations on Sunday suggested Tehran might be willing to discuss certain issues — but not the complete end of its nuclear program. “If the objective of negotiations is to address concerns vis-a-vis any potential militarization of Iran’s nuclear program, such discussions may be subject to consideration,” said a statement from the mission. “However, should the aim be the dismantlement of Iran’s peaceful nuclear program to claim that what Obama failed to achieve has now been accomplished, such negotiations will never take place.”

The waiver was introduced in 2018, when Washington reimposed sanctions on Tehran after Trump abandoned a nuclear deal with Iran negotiated under President Barack Obama. Since returning to the White House in January, Trump has reinstated his policy of exerting “maximum pressure” against Iran. “The President’s maximum pressure campaign is designed to end Iran’s nuclear threat, curtail its ballistic missile program, and stop it from supporting terrorist groups,” a spokesman for the US embassy in Baghdad said earlier Sunday. The spokesman urged Baghdad “to eliminate its dependence on Iranian sources of energy as soon as possible.”

The landmark 2015 deal that Obama helped negotiate between Tehran and major powers promised sanctions relief in return for Iran curbing its nuclear program. Tehran, which denies seeking nuclear weapons, initially adhered to the nuclear deal after Trump pulled out of it, but then rolled back commitments. US officials estimate Iran would now need mere weeks to build a nuclear bomb if it chose to.

– ‘All scenarios’ – Trump pulled out of the agreement over the objections of European allies, instead imposing sweeping US sanctions on any other country buying Iran’s oil. The waiver was extended to Iraq as a “key partner” of the US. Iraq, despite having immense oil and gas reserves, remains dependent on such energy imports. But Baghdad said it had prepared “for all scenarios” regarding the waiver. The ending of the energy waiver is expected to worsen the power shortages that affect the daily lives of 46 million Iraqis. Gulf analyst Yesar Al-Maleki of the Middle East Economic Survey (MEES) said Iraq will now face challenges in providing electricity, especially during summer. To alleviate the impact, Iraq has several options including increasing imports from Turkey.

© 2024 AFP

Tags: energyIransanctions
Share83Tweet52Share15Pin19Send
Previous Post

China-US trade war heats up as Beijing’s tariffs take effect

Next Post

Trump declines to rule out 2025 US recession

Thomas Barnes

Thomas Barnes

Related Posts

Economy

US consumer inflation holds steady but tariff risks persist

August 13, 2025
Economy

In China’s factory heartland, warehouses weather Trump tariffs

August 12, 2025
Economy

Trump signs order to extend China tariff truce by 90 days

August 12, 2025
Economy

Trump says dealing ‘nicely’ with China as tariff deadline looms

August 11, 2025
Economy

Indonesia, Peru strike trade agreement as leaders meet

August 11, 2025
Economy

Brazil’s Petrobras posts $4.7 bn second-quarter profit

August 8, 2025
Next Post

Trump declines to rule out 2025 US recession

After Poland spat, Musk vows Ukraine can keep Starlink

Energy industry meets after Trump tears up US green agenda

7-Eleven, Couche-Tard explore sell-offs ahead of potential merger

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

75

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Stocks diverge as bitcoin hits record high

August 14, 2025

Germany’s Thyssenkrupp cuts targets as US tariffs weigh

August 14, 2025

UK economy slows less than feared after tariffs

August 14, 2025

Markets mixed as bitcoin hits new high

August 14, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.